A country may not be able to develop without integration and connectivity

(VGP) – PM Nguyen Xuan Phuc said a country could not be able to develop itself without integration and connectivity while addressing the opening ceremony of the China International Import Expo (CIIE) 2018 in Shanghai on November 5.

He welcomed the Expo which represented the thinking of win-win, economic and commercial cooperation in favor of regional and global economic growth.

According to the Vietnamese PM, the world economy is backing on track and developing. The fourth Industrial revolution has influenced every country, enterprise, and people; opening up opportunities and creating challenges. However, trade disputes are emerging in a complicated manner, requiring relevant sides to negotiate and consolidate confidence; abide by international laws and beef up equal cooperation.

PM Phuc praised the socio-economic achievements which China has attained after 40 years of renovation and the organization of the first CIIE.

As a close and friendly neighbor, said PM Phuc, Viet Nam always respects for solidarity, stable and cooperative relations, and hopes to shake hands with China to promote trade and economics in favor of mutual benefits.

“Viet Nam advocates the open, fair, transparent multilateral trade system which relies on the World Trade Organization’s rules; support trade and investment liberalization; generate a favorable business environment; positively contribute to peace, cooperation, and development,” the PM stressed.

The PM quoted a Vietnamese proverb “One tree can't make a hill, three trees can make a huge mountain,” as saying that in the context of globalization, a single country finds it difficult to develop without opening its door for integration as linkages create ‘high mountains’ and ‘high forests’ for development.

At the CIIE 2018, a large number of Vietnamese outstanding enterprises displayed their agro-forestry-fishery products, electronics, and consumer electronics.

PM Phuc hoped that via the Expo, foreign enterprises would learn about products and potentials of Vietnamese products and strive for trade balances in favor of win-win benefits.

The Vietnamese Government, affirmed the PM, committed to creating a favorable business environment in line with modern international standards and high ones as stipulated in new-generation FTAs which Viet Nam has joined.

During his keynote speech, President Xi said that all countries should be committed to opening-up and opposing protectionism and unilateralism in a clear-cut stand, adding that China will push forward multilateral and bilateral cooperation in pursuit of development.

The CIIE comes as China pushes to further open up to the world, in line with the 40th anniversary of the country’s reform and opening up. This expo, therefore, is an important opportunity for international businesses to enter the Chinese market and develop trade links.

The CIIE is the largest import expo of its kind, and the first ever in China, debuting over 5,000 new international products in China. It has invited 12 countries to attend as Guests of Honor, including the UK and Pakistan.

The CIIE will run until Nov. 10 with a clear message that China is open to business, with President Xi confirming "China will not close its door to the world and will only become more and more open”.